Statement of Financial Position

Statement of financial position is the new name of the balance sheet used in IFRS.

International Financial Reporting Standards (IAS 1) do not prescribe the exact format of the Statement of financial position but it can be obtained from IFRS Taxonomy. Just that official format is build into the ReadyRatios analytical software.

According to the IFRS Taxonomy Statement of financial position has the following format (current/non-current variant):